Argentina: Potassium Sulphate (Sop) Market 2024

Potassium Sulphate (Sop) Market Size in Argentina

In 2022, the Argentinian potassium sulphate (SOP) market increased by 31% to $X, rising for the second year in a row after two years of decline. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Potassium Sulphate (Sop) Exports

Exports from Argentina

In 2022, potassium sulphate (sop) exports from Argentina reduced dramatically to X tons, shrinking by -34.1% against 2021 figures. Overall, exports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of 1,101%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, potassium sulphate (SOP) exports shrank notably to $X in 2022. Over the period under review, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of 733%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Paraguay (X tons) was the main destination for potassium sulphate (SOP) exports from Argentina, with a 78% share of total exports. Moreover, potassium sulphate (SOP) exports to Paraguay exceeded the volume sent to the second major destination, Uruguay (X kg), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Paraguay stood at +82.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (-8.3% per year) and Bolivia (+83.8% per year).

In value terms, Paraguay ($X) remains the key foreign market for potassium sulphate (SOP) exports from Argentina, comprising 83% of total exports. The second position in the ranking was taken by Bolivia ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Paraguay totaled +50.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+90.3% per year) and Uruguay (-17.5% per year).

Export Prices by Country

The average potassium sulphate (SOP) export price stood at $X per ton in 2022, rising by 12% against the previous year. In general, the export price saw a resilient expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by 94% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+3.5%), while the prices for the other major destinations experienced a decline.

Potassium Sulphate (Sop) Imports

Imports into Argentina

Potassium sulphate (SOP) imports into Argentina contracted to X tons in 2022, with a decrease of -9.4% compared with the previous year's figure. In general, imports recorded a perceptible shrinkage. The growth pace was the most rapid in 2018 when imports increased by 67% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, potassium sulphate (SOP) imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a mild expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 79% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of potassium sulphate (SOP) to Argentina, accounting for a 79% share of total imports. Moreover, potassium sulphate (SOP) imports from Belgium exceeded the figures recorded by the second-largest supplier, China (X tons), sevenfold. The third position in this ranking was held by Egypt (X tons), with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium amounted to +19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+28.9% per year) and Egypt (-5.2% per year).

In value terms, Belgium ($X) constituted the largest supplier of potassium sulphate (SOP) to Argentina, comprising 84% of total imports. The second position in the ranking was held by China ($X), with a 9.1% share of total imports. It was followed by Egypt, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium amounted to +24.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+33.8% per year) and Egypt (+12.5% per year).

Import Prices by Country

The average potassium sulphate (SOP) import price stood at $X per ton in 2022, with an increase of 86% against the previous year. Over the period under review, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potassium sulphate (SOP) import price increased by +97.2% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+18.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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